182,000 Shares in Alphabet Inc. $GOOG Acquired by MKP Capital Management L.L.C.

MKP Capital Management L.L.C. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 182,000 shares of the information services provider’s stock, valued at approximately $62,015,000. Alphabet makes up approximately 1.8% of MKP Capital Management L.L.C.’s investment portfolio, making the stock its 11th largest holding.

Several other large investors also recently added to or reduced their stakes in GOOG. Denali Advisors LLC boosted its position in Alphabet by 14.8% during the 2nd quarter. Denali Advisors LLC now owns 105,988 shares of the information services provider’s stock worth $37,449,000 after acquiring an additional 13,700 shares during the period. Heck Capital Advisors LLC increased its holdings in shares of Alphabet by 298.2% in the 2nd quarter. Heck Capital Advisors LLC now owns 22,229 shares of the information services provider’s stock valued at $7,854,000 after purchasing an additional 16,647 shares during the period. Montchanin Asset Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $7,075,000. NBT Bank N.A. acquired a new position in shares of Alphabet in the 3rd quarter valued at about $47,537,000. Finally, Sax Wealth Advisors LLC increased its holdings in shares of Alphabet by 13.3% in the 2nd quarter. Sax Wealth Advisors LLC now owns 30,489 shares of the information services provider’s stock valued at $10,773,000 after purchasing an additional 3,575 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock opened at $290.63 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 2.69. Alphabet Inc. has a fifty-two week low of $271.41 and a fifty-two week high of $404.47. The stock’s 50-day moving average is $326.81 and its two-hundred day moving average is $336.38. The firm has a market cap of $3.57 trillion, a P/E ratio of 15.17, a PEG ratio of 0.86 and a beta of 1.21.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.89). The firm had revenue of $127.58 billion for the quarter, compared to analysts’ expectations of $127.97 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period last year, the business earned $2.87 earnings per share. Analysts predict that Alphabet Inc. will post 19.74 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, December 7th will be issued a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 4.59%.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. KeyCorp reissued an “overweight” rating and issued a $385.00 price target on shares of Alphabet in a research report on Thursday, October 29th. Oppenheimer reaffirmed an “outperform” rating and set a $400.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $345.00 price objective on shares of Alphabet in a research report on Thursday, October 29th. New Street Research dropped their price objective on shares of Alphabet from $455.00 to $405.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $475.00 target price on shares of Alphabet in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $413.38.

Get Our Latest Stock Analysis on Alphabet

Insider Buying and Selling

In related news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 247 shares of company stock valued at $79,238 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

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Alphabet Profile

(Free Report)

Alphabet is a technology holding company whose primary business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company adopted a holding-company structure in 2015. Sundar Pichai leads Alphabet and Google as chief executive officer. Google offers internet search, online advertising, cloud computing, and software and hardware products. Its services and products include Google Search, YouTube, Android, Chrome, Google Maps, Google Play, and Google Cloud.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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